Jun 3, 2022 - Economy & Business

"Platty Joobs" trends online for Queen's Platinum Jubilee

Queen Elizabeth II in periwinkle suit and hat on her jubilee celebration

Queen Elizabeth II in 1957 and on the balcony of Buckingham Palace on Thursday. Photos: Bettmann/Contributor and Chris Jackson/WPA Pool/Getty Images.

Trending online this week was “platty joobs” or “platty jubes," a play on Platinum Jubilee — or the 70th anniversary of Queen Elizabeth II's ascension to the throne.

Why it matters: The queen is the first British monarch to celebrate the milestone.

  • People are divided on the "platty joobs" moniker, but agree it’s addictive.

The big picture: The celebration's economic impact depends on who you ask. It may translate into a brief spurt of localized consumer spending, but Axios' Felix Salmon suggests the four-day festivity is a drag on productivity (Thursday and Friday were public holidays).

By the numbers: The U.K. government said it expects more than 200,000 local events and street parties to be held between Thursday and Sunday, according to Barron’s.

  • Grocery chain Co-op predicted “a bigger sales period than Christmas,” the same report said.

What to watch: How long the jubilation lasts.

  • Past royal events have driven foot traffic to stores and bars and propped up alcohol, apparel and decoration sales.
  • But inflation is cutting into budgets, and pent-up demand for travel may mean not as many people are around, Bloomberg opinion columnist Andrea Felsted notes.
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